The Board of Directors of Geregu Power Plc (NGX: GEREGU) has approved the declaration of dividend for the financial year ended 31st December, 2022. The Board gave the approval at its meeting which took place on Monday, 30th January, 2023.
Alongside the dividend approval, the Board also approved the Audited Financial Statements and Accounts of the company for the year.
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In a notice of the Board meeting published on the Nigerian Exchange by the company, it stated that the 2022 accounts of the company will be released to the public on 31st January, 2023.
In December 2022, The Fund for Export Development in Africa (FEDA), a unit of African Export-Import Bank (Afreximbank), said hat it has received approval from its internal approving authority to acquire a minority stake in Geregu Power Plc.
Investogist reported in October 2022, that Geregu Power Plc, a 435 megawatt thermal power plant located in Ajaokuta, Kogi State, and controlled by the business tycoon Femi Otedola listed 2.5 billion ordinary shares of 50 kobo each at N100 per share on the Nigerian Exchange.
Since its listing in October 2022, the share price has risen by 93.6% to close trading on Tuesday at N193.60 per share.
Nnamdi Maduakor is a Writer, Investor and Entrepreneur
